Skip to main content

Bharti Infratel IPO by december end 2012


Bharti Infratel, the telecommunications tower arm of top Indian mobile phone carrier Bharti Airtel  , is likely to launch on December 10 its up to USD900 million initial public offering, three sources with direct knowledge said.

The share sale could raise USD800 million to USD900 million, the sources said. Bharti Infratel and four private equity investors are selling shares in the offer.
A Bharti spokesman declined to comment.
Bharti Infratel expects to get a go ahead from the capital markets regulator as early as Friday, the sources said. All three sources declined to be named as the information is not public yet.
Bharti Infratel expects a go-ahead from the capital markets regulator as early as Friday, the sources said, adding the IPO would open for cornerstone investors on December 10 and for the public a day later.
Bharti Infratel will sell new shares in the IPO, which will be a key test for overseas investors' appetite in a market that has risen nearly 20% so far this year.

"We have got fairly good feedback from foreign investors for this paper and Bharti is a fairly known brand so we are not very worried about the demand," said one of the sources, who is directly involved in the process.

Four private equity investors, including arms of Singapore state investor Temasek and Goldman Sachs  are selling shares in the offer. Hedge fund Eton Park's Anadale Ltd and a unit of Japan's Nomura are also selling.

Bharti Airtel, India's top mobile phone carrier and the owner of about 86% of the tower arm, is not selling any shares.



Sandip Ginodia
ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .



For more info and regular updates about unlisted shares and the stock market :
Like us on facebook : www.facebook.com/abhisheksecurities 

Comments

Popular posts from this blog

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in last year's report. According t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p